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Trade-in value of '14 MS 85 for new 85D ...? ( Or sell outright )

Discussion in 'Model S: Ordering, Production, Delivery' started by arijaycomet, Mar 4, 2015.

  1. arijaycomet

    arijaycomet Member

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    9f4345a76d4cdd5116fbc9d3b244768d.jpg

    I'll make this short and to the point. Picked up my Tesla in December but it is a spring build date car. Had 1,200 miles when I got it, was inventory car (demo/loaner). I'm original owner and car now has just shy of 5,000 miles. Love it, and want a new 85D. Besides all wheel drive I would gain auto pilot, and would add features I desire like air ride, silver next generation seats etc.

    Long story short: I'm trying to get a ballpark idea of the value of my car might be. Either trading in and/or used car private market. Local tesla store is going to try and appraise my car too, but curious what others here think it is worth. Per photo attached it was $94.5k new. I've added a factory carbon fibre spoiler and have had the brake calipers professionally painted red. So visually car looks like a P85, now. It also has had 35% tint installed all around.

    Nada says my car is worth around $84-85k trade in. Is that right?! If it's over $80k that I could sell for I might consider ordering up a new 85D. Seems high to me, but web shows prices which are all over the place. Thoughts?
     
  2. breser

    breser AutoPilot Nostradamus

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    You can basically count on getting nothing for these sorts of things if trading to Tesla or another dealer. You might get something out of them to a private buyer.

    Doubtful. I had a pretty similar car that I traded to Tesla for $82k with only 2,600 miles on it. I tend to think that Tesla made me a great deal on that trade. A private sale might be possible for you, it's not realistic in Washington due to sales tax being waved on new alternative fueled vehicles and not on used (making a new car cheaper unless it's significantly discounted).

    But it's worth checking anyway.
     
  3. arijaycomet

    arijaycomet Member

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    breser, I should have clarified. I don't expect a dime back from the changes I've made. That was more for the benefit of anyone reading who per chance is shopping for a car and found mine interesting. I'm not yet ready to list it up for sale but realize spoiler, tint and caliper paint make not a value difference. But thanks for the confirmation.

    More so I was looking for solid experience or data. And you provided good feedback there. From what the store manager locally told me they would definitely try to make a concession (read: pump up my trade in value) as a quick repeat customer. So if you got $82k then I may expect $80k. And frankly in my current equity situation that might be close enough to work some magic here ;) thanks for the reply
     
  4. Tdriver

    Tdriver Member

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    I have been tracking Tesla on ebay for two months. It is very rare to see one sell for more than 80k, even a P85......most are overpriced.
     
  5. Canuck

    Canuck Active Member

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    I pretty sure breser's trade-in offer from Telsa was the expection rather than the rule. He was able to work some magic, from what I recall about similar cars and offers from Tesla which were much lower than the offer he got. I remember people telling him to jump on it, it was so good compared to others.
     
  6. breser

    breser AutoPilot Nostradamus

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    You remember correctly. Which was my point. You might get lucky and Tesla might work a good deal for you. But $80k is not a fair market value for your car in my opinion. I tried to sell my car to dealers and they weren't interested in giving me $80k for it unless it was a P.
     
  7. Cyclone

    Cyclone Active Member

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    Well, if you do decide to sell it, I am sure it will find a great new home. My garage has an empty space btw for Papa's First Tesla! ;)
     
  8. arijaycomet

    arijaycomet Member

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    You want it? Make me an offer... :cool:

    Based on the new 85D I've configured ($105,320) and the equity (pos/neg) in my current 85, it seems like the magic number for me is probably hovering right around $80k. If my current car is worth that much, I could probably make this work and move forward with ordering an 85D. If it is worth less, I'll end up in a negative and that just doesn't make sense.

    My on-going fear remains the value of the car in the future versus the loan equity build-out. I'm paying a fair price per month, but due to low interest rates from my CU, took a rather long term on the principal. Additionally, I find myself driving this 85, a LOT! I've had it just over 60-days and have put just over 3,200 miles already. Though I had a few trips in there which bolstered it higher, I still expect 18k/year. At that rate my car in 6-months would have another 9,000 miles-- making it a 2014 with 14,000 miles. Not horrible by any means, but I'm wondering if my value (Based on mileage) isn't better now than in 6-months.

    Guess I'll have to wait and see what the local Tesla store says. And I may just sit it out and hope that come this Autumn I can make it work (and get the 85D right before EOY for sake of tax credit). We'll see....
     
  9. mmccord

    mmccord Member

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    I tracked S85s on ebay for a few months last year when I was looking for a used S and came up with a formula.

    I haven't seen a lot of sales that fall outside of its prediction (for private party sales):

    Original sticker
    - $7500 Fed incentive
    - $2500 (if lacking autopilot)
    - (0.5% of sticker per month)
    - ($0.35 per mile)

    This puts your car @ 77983.90
     
  10. ReddyLeaf

    ReddyLeaf Member

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  11. shadowinstallz

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    doesnt hurt to ask Tesla what the trade in value would be........my number was 78k not as good as breser's but enough for me to pull the trigger. Will you benefit form the sales tax from trade in? i had my S for 2200 miles and about 38 days ...orig configured price was 92,320. this was in in oct. I think the issue you may have is that it was a Spring 2014 vehicle, but it does have low miles. I'm assuming you purchased this at a high discount since it was a Spring Build without autopilot.
     
  12. arijaycomet

    arijaycomet Member

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    I paid ~$85,000 for my car (approx $9,500 off MSRP). In addition there was obviously the benefit of the federal tax credit so one could argue I only paid $78k for my car, net. Obviously this discount is based on the fact it was 8-months old when I took ownership, and as you pointed out it is a pre-autopilot car. My fear is that the lack of that feature alone will hurt my trade-in value. My experience is that most cars this age take a 20% drop after the first year, regardless of mileage. That would put my car at $75k if using 20% off MSRP -- which isn't far from your $78k figure. I can only hope that MAYBE they'll give more for the lower mileage, and I'll see $80k. At that value I could probably justify the move-- but that is really only $5k less than what I paid pre-tax-credit.

    OH and yes, I will benefit from the sales tax by trading in. Which is another interesting angle here. My tax rate is 8% --- so if Tesla offered me $75,000 for my car, that is equal to a $6,000 tax savings trading it in on the new car. That means the only benefit of selling it outright personally would be at over $81,000 ($6k more), to cover the sales tax. No matter what value Tesla offers me, it is hard to imagine I'd sell it for more than $6k additional outright, so their trade is really likely to be my BEST option.

    Thanks for sharing. Now compare that to this:
    TMC Marketplace

    Prices are all over the place-- but your link is 1-year older, and has 30,000 more miles than my car. So that isn't really apples to apples. My car is more closely related to my link above--- that car has very similar miles, options, and age. Hence it would make me think I could at least ask similar... but what you ask for a price doesn't mean that is what you'll get. It would be really nice if there was a way to know what cars sold for, not just what people ask. And not eBay, because that site is only one small snippet of reality. :)
     
  13. Cyclone

    Cyclone Active Member

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    If Tesla had an inventory car around that pricing, I'd be waiting for its delivery right now. Sadly, Internet Sales hasn't found anything with such discounts (all except one car they sent me was above $100k after discounts before tax credit). Hoping that once my local service center and showroom opens I can built a rapport with someone there to regulary check for an inventory car I can buy like you did.
     
  14. shadowinstallz

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    #14 shadowinstallz, Mar 5, 2015
    Last edited: Mar 5, 2015

    Your calculation of $80k is not realistic....sorry, if you compare your vehicle to mine or breser's ours was a Sept 2014 build and was traded in within a month. Since you purchased your vehicle at a high discount which i believe Tesla would see when they do their appraisal, they would not offer you anywhere close to what you paid. Also FYI: they do calculate the $7500 tax credit since that vehicle is no longer "new".


    Your best option would be to sell private since you already purchased your vehicle at a high discount.
    $78k after tax credit is really good and you can probably get around 70k private since it is a low mileage vehicle. I don't think anyone would pay anywhere close to 80k for a used tesla since you can buy new or even a Demo/Inventory Vehicle for close to that price with tax credit.


    Nonetheless just send over quote request to tesla and see.....the longer you wait the more depreciation.

    check this thread out....
    If you do not mind, Please post your trade in offer from Tesla so we can compare note
     
  15. Cyclone

    Cyclone Active Member

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    Based on the Op's other posts, I don't think he will be willing to sell at that price. But if he is, I could be a buyer, though I really am looking for 19" wheels.
     
  16. arijaycomet

    arijaycomet Member

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    At this point I'm told I may hear back later today (Friday, March 6th) with a trade-in valuation/offer from the local Tesla store. I'm going to have to take that number, compare it to where I want to be, and what I want to pay (or can pay) to make something work. Though my car was purchased for a nice discount, I've still not yet received my tax refund, and I had negative equity in my 2013 Audi that was traded in against my current Tesla.

    That being said, I have access to funds that I could use to "forward" myself the tax refund (I'm waiting on about $6,400 total from Uncle Sam). But assuming I'd be getting my new car in May (web site says that for 85D delivery), based on projected payoff on current Tesla, and funds available, I'd need to sell the current car for $80,000 to break even. And even then the car would ideally pass through Tesla for tax benefits.

    Cyclone, I'm not sure how much you want to spend... but my car DOES have the 19s (with snow tires) (the factory 21s were sold, traded to TSW 20" wheels that are sitting in storage, zero miles). Ideally, I'd actually want to sell the car with the 19s/snows -- so if someone such as yourself wanted the car with the basic 19s I'd be willing to split the cost of new tires with the new buyer, giving them a brand new set of 19" tires so that I can keep the snow tires but not the rims. Otherwise, I had planned to wait for my new Tesla to arrive, with the regular 19s, transfer those to the new car (wheels + tires) so that I can KEEP both my current sets of wheels (19/winter and 20/summer).

    Drop me a PM if you're seriously interested. And what you're thinking price wise (is $80k in your budget? $78k? where do you need to be?). Again I'm really just playing the figures right now, and may HAVE to wait.... but I fear waiting = more miles = less value. My car is at around 4,750 miles right now IIRC.... and the new 85D sounds more and more tempting each day... :p
     
  17. shadowinstallz

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    Best of luck to you....you might be lucky with the Tesla trade if they don't see that u bought an inventory vehicle at a high discount. Was this your plan all along? Sell ur highly discounted car at a higher price after driving it a few months. Just saying....hehehe I probably wouldve done the same
     
  18. shadowinstallz

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    I don't see why you are trying to "break even" since u already bought the car discounted and took advantage of the tax credit......just my 2 cents given u knew about the D when u took delivery of this inventory vehicle....sorry to be so forward lol
     
  19. arijaycomet

    arijaycomet Member

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    Great questions and valid points. It breaks down like this:

    - In the month of December I had projected Federal taxes of $3,500 and had wanted a Tesla for some time. My goal was a new car w/tax credit (to give me $4k refund net), but also to find something that didn't change my monthly obligation. Given my negative equity (Audi trade-in) and the cost of that car, the only vehicle(s) that fit my needs were discounted inventory cars being sold new.

    - At that time I was able to determine cost of fuel (gas) versus electricity, and determined that the specific car I bought met my budgetary desires. I knew down the road I'd want the 85D but had originally hoped I'd go longer than 4 months before the itch. Thanks to the addition of the Next Gen seats I'm now more interested in making something happen. Also realizing the rate of mileage I'm adding to the current car (because I love to drive it), sooner might net more value.

    - At time of purchase my car was $86,000 (after discount) versus $103,000 for the 85D. I could not justify the price difference. With the NG seats now offered my MSRP on the 85D will be $105,000 as equipped. However, with my current refund forthcoming and other funds available to me, I'm willing to pay MSRP for the new vehicle, since I have access to $$ that will greatly reduce my expense there.

    - BUT .. and this is the big issue, I don't want to sell my car for a negative equity situation. That is why I want to "break even" right now. I don't have any issues paying $105k for the 85D ... but I don't want to be upside down on my current car. Hence somewhere in the $78k-82k range is where I need to be (based on throwing maybe a few bucks at my current car, but saving the rest to lower my payment on the new car). Tit for tat, I'm just trying to maximize my current car's value-to-payoff.

    In conclusion... it may make more sense to wait 6-12-18 months ... and re-evaluate then. If I'm able to sell my current car for -$0- break even, then I'd be able to walk into the Tesla dealer and make sure my payment stays the same. I'm happy with that, and the wife would be, too. If my payment goes up $50'sh a month that is fine too... I'm just trying to avoid a huge delta. So the "cash in hand" is enough to put down on a new car to make that happen, with only a few bucks left to apply toward current car payoff. Make sense?

    Thanks for listening... LOL
     
  20. cgiGuy

    cgiGuy Member

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    I'm in the same boat.. I have a 60 that I'd love to "trade up" for a 85 or 85D (really just want the autopilot features). Unfortunately, no one really cares about our equity, be it positive or negative. I got an offer of $51K from Carmax and bids up to ~$53 on eBay (didn't meet reserve). Decided I'll just drive it and enjoy it a while longer and hopefully some day the two lines will meet (payoff / private party value) and I'll offload and upgrade.

    The wide spectrum in asking prices seems to be caused by people who can afford to lose a lot of money (on the low end) and those who are unrealistic with the value of their used MS vs a new one (on the high end). Of course salvage vehicles on eBay probably aren't helping, when people see P85s for $50K and don't realize the hard time they're probably going to have getting service/support from Tesla.

    Good luck. I hope you can get a fair price for it.
     

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